Bolero announces flagship client for Galileo TPaaS for banks

By Leandra Monteiro

Bolero International, a cloud-based trade finance digitisation experts, announce the signing of UBS as its first major customer for Galileo TPaaS, its new white-labelled trade finance portal-as-a-service solution for banks.

The solution helps financial institutions provide their corporate clients with unrivalled functionality and a transformed digital experience. For the very first time, banks can achieve an accelerated time to market and an overall lower cost of deployment as compared to traditional trade finance digitisation options.

Galileo TPaaS allows corporates to conduct traditional trade and open account transactions and leverages the structured communication processes and electronic trade documents, making Bolero a leader in trade finance digitization. Over time, Bolero will work with like-minded FinTechs to expand the functionality and services available to Galileo users.

The white-labelled solution is built on Bolero’s secure SaaS platform Galileo and is available on-demand as a fully managed service on the cloud.

“Galileo TPaaS fits well into our vision of an eventually end-to-end digital trade business. The collaboration with Bolero brings us one, significant step closer. The Galileo TPaaS core allows us to offer a great user experience to our customers,” said Didier Furrer, Product Manager Trade & Export Finance at UBS.

Andrew Raymond, CEO at Bolero International added, “We are very pleased having gained UBS as a first flagship client. This allows us to deliver a unique and compelling offering to corporates through a branded portal. It helps realise our vision for corporates to embrace digitization of trade finance and will drive adoption in other areas of our business. The great teamwork and sharing of ideas have accelerated our plans in this space, and we are excited to announce further client acquisitions in due time.”

Bolero’s Chief Product Officer, Anchal Tiwari added, “The signing of a major European bank leads Bolero to the next chapter of its growth and success. Galileo TPaaS will be fully integrated into their back-end systems which will allow end-to-end digitization of trade transactions requests by corporate clients. With Galileo TPaaS, the bank will be able to tap into Bolero’s connected digital ecosystem and offer out of the box multi-bank trade finance services and ready carrier connectivity to their clients.”